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Restructuring ofTNEB

The Government of Tamil Nadu vide G.O Ms No 114 dated 08.10.2008, accorded in-principle approval for the re-organisation of TNEB by establishment of a holding company, by the name TNEB Ltd and two subsidiarycompanies, namely Tamil Nadu Transmission Corporation Ltd (TANTRANSCO) and Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO).

2. Based on the above G.O. the Tamil Nadu Transmission Corporation Ltd was registered on 15.06.2009. The Certificate of commencement of business has been obtained for the TANTRANSCO on 11.12.2009. The Tamil Nadu Transmission Corporation Ltd was inaugurated on 14.12.2009 and the Chairman, Managing Director, Director-Transmission Projects, Director-Finance have assumed office on 14.12.2009.

4. The proposal for Assets Transfer and Employee transfer has been notified by GoTN on 19.10.2010 . Based on the Transfer scheme, the Board has been re-organised with effect from 01.11.2010. The finalization of the Draft Tripartite Agreement between Government, Board and Employees is under process and the same will be finalized at the earliest. Also, as the provisional period for transfer of assets is one year and as the period has expired on 31.10.2011, Government of Tamil Nadu have been addressed to extend the provisional period for a further period of one year i.e. up to 31.10.2012 with a request to notify the same with provisional opening Balance Sheet of the successor companies as on 1.11.2010 based on 2009-10 audited accounts.